Friday, September 3, 2010
"I will be broke for the next few months but I won't owe anybody any money by the time 2010 is done"
Jessica is one of our Pure Peace fans who was asked to write a piece on her debt free journey, she accepted and this is her testimony in her own words. She was bold and courageous to share her story with us and for that we are gracious. We were certainly inspired, and we are sure you will be also.
-- Pure Peace
"I will be broke for the next few months, but I won't owe anybody any money by the time 2010 is done."
Over the last 5 years, I've attended and finished college, started a new job, bought a new motorcycle and new car. Throw in a few student loans, trips to any and everywhere and a few credit cards, it's safe to say that I've accumulated quite a bit of debt. Although it may come of as so, but I am not one who spends, spends, spends. Or a compulsive spender is what I like to call it. I plan, I save(a little) THEN I buy/spend.
It wasn't until about 5 months ago when I sat down and made a spread sheet showing my monthly bills that the spotlight was on me and my out of hand spending. Now keep in mind, I THOUGHT I had it under control. When I saw the amount going out was almost equal to the amount coming in, I then realized that I had to sit down and reevaluate my finances.
I then came up with the "I'll be broke for the next few months but I won't owe anybody any money by the time 2010 is done" mentality. With the exception of things that I really and truly need, I've put my spending on hold. I cook and take my lunch to work every day (Saves me about $50 a week). Instead of shopping or going on multiple trips in short periods of time, I pay bills. With this mentality, since April I've paid off two credit cards and put myself in a position to have the rest of my student loans paid off by December of this year. It feels soooooooo good when I look at that spread sheet and I can see that slowly balances are coming down and the light at the end of the tunnel is starting to shine through.
I used to complain and say I don't understand how people can survive on my salary(it's really not that bad). My not so controllable spending had me blinded. Anytime my mother would hear that, she would respond with "there's people with kids, a mortgage and way more bills that make less than you that are making it work." It's true....there are. So I put it paper, grabbed it by the reigns and now I'm counting my financial blessings.
Becoming debt free takes discipline but it can be done! Take it from me....write it down, keep track of your spending and see what you can live without and put that money towards financial freedom. Trust me....its not so bad. Plus, the end result will leave you with a natural high. With the amount of things I've cut out, before, I thought that I would lose my head. I'm still here.....with my head intact and doing great. I said it on NYE.....this is my year! I've hit a few bumps in the road but overall, I think my New Years resolution will actually play out right.
Stay encouraged my friends. There's nothing to it but to do it.